LinkedIn raises follow-on offering

Reuters Staff

2 Min Read

(Reuters) - LinkedIn Corp raised its follow-on public offering to about 8.75 million shares and priced it at $71 a share in a bid to raise working capital, including further expansion of its product development and field sales organizations.

On November 14, the professional networking company said it would offer 8 million shares.

Late on Wednesday, LinkedIn said it will sell about 1.3 million shares in the offering, which at the $71 price could raise up to $92.3 million, while the rest will be sold by existing stockholders.

Selling stockholders included Chief Executive Jeffrey Weiner and private equity backer Bain Capital Venture Integral Investors LLC, which sold off all its shares.